Morgan Stanley is securitizing the senior portion of a $300 million loan secured by the Graybar Building located on 420 Lexington Ave in New York City. The asset was previously securitized in the COMM 2001-J1A transaction.

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Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, its not clear exactly what the Commission will do.

The proposal would introduce dissemination of trade prices for securities ranging from highly liquid credit card and auto ABS to smaller and more esoteric deals in asset classes such as time shares, to commercial mortgage-backed securities (CMBS) and highly structured CDOs and collateralized loan obligations.